How to Copy Trades on Fusion Markets in 2024
Launched in 2017, Fusion Markets is a fast-growing CFD and Forex broker in Australia. Besides its low commissions, the brokerage firm is witnessing massive adoption because it offers an opportunity for customers to generate passive income through copy trading. Fusion Markets offers its copy trading service in partnership with two top social trading platforms, MyFxBook Autotrade and DupliTrade.
In this article, we will take you through the process of copying trades through Fusion Markets.
How to Begin Replicating Trades Through Fusion Markets
As mentioned, Fusion Markets partners with MyFxBook Autotrade and DupliTrade to allow its users to follow the strategies of successful traders. For the purpose of this guide, we will show you how to copy trade via DupliTrade. Follow these simple steps to get started:
Step 1: Register with DupliTrade
To start using Fusion Markets’ copy trading service via DupliTrade, you will need to register with the social trading platform. To do so, go to duplitrade.com and enter your full name, email, phone number, and password. After that, click “Create Account.” You will immediately get access to your newly created DupliTrade account.
Step 2: Create a Fusion Markets Trading Account and Connect It to Your DupliTrade Account
To create a live account on Fusion Markets, simply go to fusionmarkets.com and press the “Create an Account” button. Next, provide your email and password, and then hit “Sign Up.” After that, choose the account you wish to open and provide KYC information, which includes your ID card and proof of residence.
Once you have a Duplitrade live account, you can then link it to your DupliTrade account. So, how do you do this? Simple! Go to your DupliTrade account and choose Fusion Markets as your broker.
Step 3: Open a Meta Trader 4 Account
DupliTrade does not have a self-developed trading platform. So, signal providers listed here trade on Meta Trader 4. Therefore, you will need an MT4 account to start copying trades. To set up this account, download Meta Trader 4 for desktop and enter your email and password. After gaining access to your new MT4 account, use the login details provided by Fusion Markets to link your live account to your MT4 account. Also, provide your DupliTrade username to connect your DupliTrade account with your Meta Trader 4 account.
Step 4: Select a Strategy Provider
Once you have your DupliTrade and Fusion Markets accounts connected to your MT4 account, you can now pick your ideal signal provider to start copying their trades. We will show you the criteria for choosing the right trader later in this article.
A Brief Review of DupliTrade
DupliTrade is one of the few social trading platforms that conduct a thorough selection process for signal providers. That explains why there are only 23 lead traders on the platform who are consistently posting positive results. But is DupliTrade regulated? Yes, it is. The social trading platform is overseen by the Cyprus Securities and Exchange Commission.
As of December 2023, DupliTrade allows 12 reliable brokers to offer their copy trading services via the platform. Besides Fusion markets, some of other brokers include Pepperstone, FxPro, IC Markets, and AvaTrade. While DupliTrade does not charge a commission on users engaging in copy trading, it has set the minimum copy trading capital at levels beyond the reach of many. You need $5,000 or more to replicate trades on this platform.
How to Choose the Right Strategy Provider on DupliTrade
Finding the right trader on DupliTrade is quite an easy process. Simply go to the “Strategy Providers” page and explore it. Click on the traders to find valuable information which you can use to evaluate their performance. DupliTrade provides details such as the traders’ number of trades, their win rates, number of followers and days of trading, percentage of profit generated since joining the social trading platform, and maximum drawdown. Pro tips: Only choose a trader with a win rate of at least 80% and a low maximum drawdown.
After finding a suitable strategy provider, click “Duplicate” and enter the investment amount, which should be $5,000 or more. Once you copy the trader, you can monitor opened positions on your MT4 or Fusion Markets account.